Carborundum Universal Limited releases press statment on the impact of Kerala Rains on its operations
Deepthi | Myequity news | Date : 16-08-2018 19:30:00 IST
The torrential and unprecedented rains in Kerala has caused wide spread disruption in normal activities of the people of the state. With our Electrominerals Division which contributes about 26% of our standalone revenues operating from this region, this release is being made by the Company to provide an update on the impact of the rains on our operations.
The facilities at Edapally, Koratty and Kakkanad are all safe and continue to be in operation. However, the hydro power plant of the Company generating power for captive consumption of the Electrominerals division at Maniyar has been flooded and is currently not generating power. The employees working in this plant are been moved to safety. The non-generation of power by the plant has so far not impacted the operations of our facilities in Kerala which continue to be in operation. About Murugappa Group
Founded in 1900, the INR 329 Billion (32,893 Crores) Murugappa Group is one of India's leading business conglomerates. The Group has 28 businesses including nine listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd., TI Financial Holdings Ltd and Wendt (India) Ltd. The Group has a wide geographical presence all over India and spanning 6 continents. Renowned brands like BSA, Hercules, Mantra, Mach City, Ballmaster, Ajax, Parry's,Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The Group fosters an environment of professionalism and has a workforce of over 35,000 employees.